Canadian working in US, first time filing taxes

midorirec · Post by **midorirec** » Tue Mar 27, 2018 3:17 pm

Hi,
I'm trying to figure out if I need to file both Canadian and US taxes. I just received my TN status in February, was working in the US last year on OPT. I have been living in the US since the beginning of 2015. I did a master's, then was on OPT, now am on TN. I'm not sure if I'm considered a Canadian resident for taxation purposes or not. I don't own any property in Canada, have no spouse/kin and have only been back a few times. I do have a Canadian DL and a Canadian bank account/credit card. I also have about 3k in a TFSA and about 20K in a LIRA.
Also, I'm wondering having paid Canadian taxes would help to establish ties to Canada when I go to renew my TN status.
If I am a non-resident of Canada, what is the next step I have to take?
Thanks!

nelsona · Post by **nelsona** » Tue Mar 27, 2018 11:42 pm

You became a nonresident the day you got TN
For other answers please research.

nelsona · Post by **nelsona** » Tue Mar 27, 2018 11:43 pm

You do not need to maintain any ties anywhere to get or renew TN

midorirec · Post by **midorirec** » Wed Mar 28, 2018 12:58 am

Thanks nelsona!

Lori · Post by **Lori** » Thu Mar 29, 2018 1:54 pm

I'm not a tax pro or anything at all, but make sure you look up CDN forms T1161, T1243, T1135, and the CRA page for Newcomers to Canada (there's helpful stuff for part-year returns, even if you are not a newcomer to canada, but an emigrant). Ask lots of questions, especially about your RRSP (don't put anything in while not resident in Canada without a hard look), and any mutual funds.

Read a lot on this forum to see the tales of woe about things people found out about too late.

Lori · Post by **Lori** » Thu Mar 29, 2018 1:57 pm

Also, your TFSA is a 'foreign trust' to the U.S. (and is taxable in the U.S.), so look into that and the US form 3520.